SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Douglas Emmett Inc. (DEI) on Tuesday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Santa Monica, California, said it had funds from operations of $74.6 million, or 37 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 37 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $5.8 million, or 4 cents per share.
The real estate investment trust, based in Santa Monica, California, posted revenue of $252.4 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $251.1 million.
Douglas Emmett expects full-year funds from operations to be $1.43 to $1.47 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DEI at https://www.zacks.com/ap/DEI
/Super%20Micro%20Computer%20Inc%20logo%20on%20building-by%20Poetra_RH%20via%20Shutterstock.jpg)
